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India buys 200 tons of gold

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posted on Nov, 3 2009 @ 09:41 PM
trade your goods,collect what you can...the $ is going to be crap soon.

The IMF may sell another 200 tons of gold in the relatively near future and most experts expect that the buyer will be China, which has foreign currency reserves of $2 trillion and might like to have its own hedge against the value of the American buck.


posted on Nov, 3 2009 @ 10:22 PM
Well, that's only about 6 billion dollars worth, hardly a drop in the bucket. If it were in the hundreds of billions or trillions, then I'd start worrying.

posted on Nov, 3 2009 @ 10:46 PM
Well India does have it's own space program going on.

India is also using gold to make computers.

So there are two high demand industries right there for your 200tons of gold. Not saying it will be used for that but all things being considered, it's obviously needed for their industrial progress.

Gold is a commodity.

posted on Nov, 3 2009 @ 10:52 PM
My daddy used to tell me, "Son, gold will get you through times of no money better than money will get you through times of no gold."

Never could figure out how he came up with that.

posted on Nov, 3 2009 @ 11:18 PM
There's not enough gold mined right now to come up with hundreds of billions of dollars, that is why gold has been leveraged and re-leveraged out by so much. Many of the places (Comex) can't fill order for gold because they either can't keep up with demand and/or have sold and leveraged what they had to make profits off of imaginary gold. They take your money and promise the gold is there or coming and you get the run around. The funny thing is why didn't England or the US or France etc. didn't buy up this gold. And on a side note, why didn't China get first dibs on buying the 200 tons. I think it may be one or two of three reasons. One is that if you as a major first world nation and world power start to buy up large tonnage of gold, then it may force people to run from the dollar or franc or pound because they will think that you know something that they don't. Two it could be deal in order to not have china buy any of it and India gets it. And three, jut like two but India is being used as an intermediary to hide other people or countries in the west that want to buy the gold but don't want to look like they are buying it, and pay a small fee to India.

Something is going on and it's not going to be pretty when it happens.

posted on Nov, 4 2009 @ 01:38 AM
I guess india knows something is going to happen to the stock market so they believe hording gold may save them.I would start to worry if another country buys that much gold all at once.It may push the price of gold up.They can always buy diamonds instead.They should try buying and hording some of the rare earth elements.Some of the prices for seven rare earth elements will increase within twenty years.New technologies will require theses rare earth elements to operate.

posted on Nov, 4 2009 @ 08:21 AM
Already discussed here:

posted on Nov, 4 2009 @ 09:46 AM

Originally posted by GORGANTHIUM
I would start to worry if another country buys that much gold all at once.It may push the price of gold up.They can always buy diamonds instead.

This buy by India already did drive the price of gold up. Gold was actually falling last week as the dollar was finally getting its legs back. Now gold is skyrocketing and the USD is falling again.

Something is up. Gold is not treated as "just a commodity" no matter how much people like to think it is. For some reason, there is something about gold. Something that is more than just "historical". Something that has caused it to be the king for thousands of years. Maybe those people that talk of "monatomic gold" are right or something...

Either way, it is certainly being used as a vehicle to move the markets. Something is up.

posted on Nov, 4 2009 @ 09:48 AM
India and China has been behind the "gold rush" that prompted the prices to raise for the last several weeks and month, no surprise here, if anybody has been following the events of the so call "gold rush" it has those two countries all over it along with big firms like JP Morgan and Goldman Sach.

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